What are the skills that an underwriter must possess?

An Underwriter should possess the following skills:

a.He should be able to visualize the property or interest to be insured and the variety of potential risks that can cause losses to them.

 

b.He should be able to estimate the probability of operation of peril to be insured in terms of both frequency and severity.

 

c.He should be able to estimate the extent of liability that may arise due to the operation of peril and the claims processing implications.

 

The skills of an Underwriter plays an important role in accepting a proposal or rejecting it, if accepted then with which rates, terms and conditions, and so on. The skills of an underwriter improves with knowledge, training, experience, exposure and deep insight.